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Winners

Europe concerns appear to be subsiding as investors prepare to head into the weekend. In response, ETFs linked to the EU are leading the market higher. Funds such as EWP and
iShares MSCI Italy Index Fund (EWI), which track the most vulnerable members of the monetary bloc, are seeing the strongest gains.

Despite this action, investors should continue to approach Europe with extreme caution.

Losers

The volatile Vietnam marketplace is witnessing notable losses, leading VNM to close out a shaky week on a sour note.

Given this nation's rollercoaster performance, it is difficult to determine where VNM will head next. Until a clearer path develops, conservative investors may want to look elsewhere for emerging market exposure.

A supply report from the American Petroleum Institute is pressuring crude oil prices and pushing the futures-backed USO to losses. According to the agency, oil producers have raised supplies to their highest levels in over 30 years.